The Director ceases to hold office if he or she—
(a) resigns by notice in writing delivered to the Governor in Council; or
(b) becomes an insolvent under administration; or
(c) is convicted of an indictable offence or an offence that, if committed in Victoria, would be an indictable offence; or
(d) nominates for election for the Parliament of Victoria or of the Commonwealth or of any other State or any Territory of the Commonwealth; or
(e) is removed from office under section 14.